Some of the advantages claimed for the voucher system are:

1. It gives a detailed analysis of all purchases.

2. It saves labor by doing away with the purchase ledger.

3. It secures an up-to-date entry of all liabilities.

4. It localizes responsibility by showing authority for the auditing, payment, and entry of the items.

5. It secures a receipted bill for all disbursements of cash.

The chief disadvantages are:

1. Clumsy provision for returns and allowances, partial payments on bills, and notes payable.

2. Inadequate showing of volume of business with each creditor.